Wow! Liza prepared this report.
I'm going to switch to the first person to explain the general ledger. There are mistakes in this version which I'll work on in the next few days. The numbers won't change more that a few hundred dollars but I like things to balance and they don't at the moment. I did want you to have something to look at in the meantime.
I'm not an accountant. I would welcome help in formatting this report properly. I'll try to make my notations clear for you.
Column headings: Expense Source - when no source is specified the money comes from our general fund through our checking account. In 2013 I began paying for some LO*OP Center purchases with my debit card or personal check. These expenses are noted in the expense column and again in the Owed Liza column. I expect to erase this debt in November when our next grant comes in. Revenue Source tells where the money comes from that is deposited into our checking account and/or how a bill got paid. The Calculated Balance column is previous balance plus revenue minus expenses. Because we started with a comfortable positive balance this column stays positive for quite a while. As I begin to loan money to LO*OP this column gets red. The Bank Balance column shows our actual cash in the bank.
We started our fiscal year with money in the bank and our endowment invested in mutual fund at Merrill-Lynch/Bank of America. I haven't been ready to jump in to the museum project for a couple of years because I knew it would be expensive. Nothing much happens in the second half of 2012 beyond collecting our endowment dividends and checking interest.
Our offices in Milpitas cost between $300 and $400 per month. This is a common occupancy fee and varies depending on how much gardening and repair work is done by the Sobrato Center for Nonprofits. They subsidize our "rent". Most of our artifacts are stored there. Occasionally I visit, pick up the mail and search for a particularly interesting item. Be aware that the occupancy fee is accruing during the months that our cash accounting shows no expenses. You will find it in January and again in the 2013-14 Fiscal year accounting (which isn't available just yet.)
In January, 2013 I hired Tom Trimbath as part time Project Manager. Tom actually is a rocket scientist (retired) and has a lot of project management experience. The past several years have amply demonstrated that I am not capable of doing this project without someone like Tom.
At the end of February I started recreating the online domains we began years ago. Unfortunately someone else has snapped up some of the URLs we were using. This time I bought the names for 10 years. They are now LO*OP Center assets. If the Board chooses not to reimburse me for these expenditures they will become my personal assets.
Here is where the calculated balance begins to diverge from the bank balance. This is because the money I spend on LO*OP doesn't pass through LO*OP's check book until LO*OP pays me back. There is an error somewhere in the calculated balance column but it's not big enough to distort the picture painted by this accounting. I'll find it after I've posted the rest of the financials.
In April Tom and I attended the Museums and the Web Conference in Portland, OR. Although it was expensive it enabled us to meet face to face every morning and to make many valuable contacts in the online museum field. Conference attendance is likely to continue to be a significant expense in years to come. After the conference two colleagues we met there came to Mt. View and we continued our conversations during which I incurred some entertainment expenses.
Tom and I meet twice each week using Google Video phone calls and work from our homes in Guerneville, CA and Clinton, WA. Although we were very busy during May and June this activity, largely involving developing contacts on via the web, is not expensive.
I'll try to get an accounting for July 1, 2013 through Sept. 30, 2013 (our 1st fiscal quarter) posted tomorrow along with a preliminary budget for all of FY 2013-14
Liza Loop 30 Oct., 2013 5:11 pm
Below is a draft of the First Quarter General Ledger. It hasmistakesin it but it's the best I can do to date. The numbers are not far off. I'm still working on it. I'm going to leave it as is for the meeting since it is not a required report and I still have to finish up the 2013-14 budget before 2 pm tomorrow. Wish me luck.
Treasury Report
(Back to Corporate Business page)
See notes on General Ledger below
Wow! Liza prepared this report.
I'm going to switch to the first person to explain the general ledger. There are mistakes in this version which I'll work on in the next few days. The numbers won't change more that a few hundred dollars but I like things to balance and they don't at the moment. I did want you to have something to look at in the meantime.
Liza Loop 30 Oct., 2013 5:11 pm
Below is a draft of the First Quarter General Ledger. It has mistakes in it but it's the best I can do to date. The numbers are not far off. I'm still working on it. I'm going to leave it as is for the meeting since it is not a required report and I still have to finish up the 2013-14 budget before 2 pm tomorrow. Wish me luck.